One, the strength of the economy definitely helps. That increases the overall outdoor advertising spend. The other thing that’s helping is just the digitalization of outdoor signage. And you are seeing this on, certainly, the large bulletin boards that we acquire. You’ve seen a lot of those transition over to digital format in the last, call it, four or five years. But you’re also seeing a lot of smart cities type deployments, where you’re getting a lot of, I would say, smaller format type digital infrastructure, but it’s a connected type infrastructure. So, it’s also providing Wi-Fi. It’s also gathering data on the – basically, the individuals that are walking around it. So, it’s more of a targeted advertising type deployment, and that’s certainly driving outdoor advertising as well. And we expect that to continue in the future as we get more and more connected as a society.

Insider’s take: Out of home acquisition activity is slowing at Landmark. Landmark has been approaching independent out of home advertising companies with a secured lending product in which it makes a long term fixed rate loan secured by leases or easements. Landmark as a secured lender is much less threatening than Landmark as a landlord.

Never miss a Billboard Insider article. Receive each post via email for free by sending us your name and email using the form below. *

Related

Author: billboardinsiderDave Westburg started billboard insider in September 2015 to provide a source of daily news and analysis for the outdoor business. He writes about what interests him as an outdoor advertising owner, lender and investor. You can reach Dave at billboardinsider@gmail.com or 206-910-1283.